News with the tag "new development bank"

Iran has called for BRICS nations to reduce their reliance on Western financial systems, warning of the risks posed by such dependence. Addressing the BRICS summit in Russia, Iran’s president urged the bloc to explore alternative structures and strengthen institutions like the New Development Bank t...

A Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offering better financial terms to developing nations. He emphasized the NDB’s role in helping countries like Zimbabwe escape debt cycles and discussed the i...

The New Development Bank (NDB), also known as the BRICS Bank, is reportedly planning to issue its first Indian rupee bond by October. Last week, the bank issued its first South African rand bond. “NDB is seeking to increase its presence in the local capital markets of its member countries, to fund i...

Eager to move away from the gravitational pull of the U.S. dollar, the New Development Bank (NDB) founded by the BRICS nations is shifting its strategic gears. With a mission to foster a more balanced international financial stage, the bank is now stepping up its game by financing in local currencie...

The New Development Bank (NDB), an initiative of the BRICS nations, is facing an inevitable shift. While it was established to serve emerging economies and move away from dollar-dependence, global economic shifts are steering its path differently. Its founding member, Russia, is grappling with sanct...

Russian President Vladimir Putin has railed against using the dollar as a political weapon in a meeting with the New Development Bank’s president, Dilma Rousseff. Putin stated that this weaponization and the recent developments in global finance complicated the institution’s growth to help third-wor...

The BRICS Bank’s vice president and chief financial officer has shed light on the economic bloc’s aspiration to develop a common BRICS currency. His remarks followed recent reports suggesting that Russia has confirmed the BRICS’ plan to introduce a gold-backed common currency, with an official annou...

The government of Argentina has noted that 19% of all imports authorized in the national system were settled using the Chinese yuan in April and May. $2.72 billion in Chinese yuan were approved to complete these payments, taking advantage of the Chinese swap line to preserve the dollar reserves of t...

Reform of the global financial structure has become a rallying cry for the New Development Bank (NDB), more commonly known as the BRICS bank. Dilma Rousseff, the bank’s president and former leader of Brazil, has passionately advocated for a financial framework that specifically addresses the unique ...

Dilma Rousseff, president of the New Development Bank — also known as the BRICS bank — and former Brazilian president, has called for establishing a financial architecture designed for the so-called Global South. In a keynote speech at the 14th Lujiazui Forum, Rousseff remarked on the importance of ...